Global Clinical Trials Imaging Market Growth Augmented by Advancement in Imaging Technology

  • 08 Apr 2019

Interpretable human physiology and anatomy information plays an important role in both clinical and non-clinical trials for many years. Detecting, preventing and treating various ailments often fosters healthcare trends. Clinical references in terms of clinical imaging provide vital insights about drug effects. Hence clinical trial imaging market is flourishing particularly when it comes to research and drug development organisations. The global clinical trial imaging market is estimated to experience profitable growth during the forecast period from 2019 to 2026 registering global CAGR of 6.5%. 

Potential upsurge in the number of pharma and biotechnology players, research organizations, increase in aged population with chronic diseases along with favourable R&D investments is expected to drive the growth clinical trial imaging market during the forecast period.

Clinical Trails Imaging Market Drivers Overview:

1.   Advancement in Imaging Technology

Numerous technology patents are being filled in an attempt to improve image capturing and evaluation by core imaging labs in order to speed up the development time for pharmaceutical organisations. Data accuracy, adaptability, consistency and compliance to clinical studies is possible due to the latest image analysis software. Advanced technology along with exceptional computation options enables rapid improvements in collection, assessment and submission of clinical trial data. 

2.   Emerging Pharmaceutical and Biotechnology Industry

Medical imaging experiences fluctuations every now and then, yet numerous pharmaceutical and biotechnology companies continue to emerge. Also increasing investment in R&D for developing and discovering new drugs serves as a key driver in clinical trials imaging market upthrust.

3.   Mergers and Acquisitions

Not only investments in pharma and biotech firms but also the mergers and acquisitions among medical imaging companies are forging ways to enhance clinical trials imaging market.

4.   High-Cost Imaging Systems and Implementation Barriers

Adoption of innovative imaging technologies to support clinical trials for medical devices comes at a cost. Latest machinery, their installation, setting up mechanisms to transfer scans to a central location incur a high cost as well as high capital required to run clinical trials. Drug discoveries are augmenting the growth of clinical trials which involves imaging guidance documentation, managing quality assurance, performing quality control on scans received and the organization of independent radiological review and/or image analysis involves experts who need to be paid. These factors can restrain the growth of the market.

Clinical Trails Imaging Market Report Overview:

•   Imaging Type Segment   

o   Computed Tomography (CT) Scan

o    Magnetic Resonance Imaging (MRI)

o   X-Ray

o   Ultrasound

o   Echocardiography

•   End-Users

o   Bio-Pharmaceutical companies

o   Medical Devices Manufacturers

o   Academic Institutes

o   CROs i.e Contract Research Organizations 

o   Hospitals

o   Others (cosmetics and skin care companies)

Competitive Landscape:  

•   Tier 1 players- established companies in the market with a major market share  

•   Tier 2 players 

•   Emerging players which are growing rapidly 

•   New Entrants  

FutureWise Takeaways  

•   Growth prospects  

•   SWOT analysis 

•   Key trends 

•   Key data-points affecting market growth 

Objectives of the Study:

•   To provide with an exhaustive analysis on global clinical trials imaging market by imaging type, end-user and region 

•   To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

•   To evaluate and forecast micro-markets and the overall market  

•   To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East 

•   To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions 

•   Profiling of companies to evaluate their market shares, strategies, financials and core competencies 

 

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